s 307-345
In forceLow rate component—Effect of rebate under the Income Tax Assessment Act 1936
Chapter 3Specialist liability rules
Part 3-30Superannuation
Division 307Key concepts relating to superannuation benefits
307-345 Low rate component—Effect of rebate under the Income Tax Assessment Act 1936
If you have become entitled to a rebate under section 159SA of the Income Tax Assessment Act 1936, your low rate cap amount for the 2007‑2008 income year is, despite subsection 307‑345(1), the total of:
(a)
your closing balance for the 2006‑2007 income year (worked out under subsection 159SF(2) of that Act); and
(b)
the amount by which $140,000 exceeds the upper limit for the 2006‑2007 income year (worked out under section 159SG of that Act).
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